The BankAmericard® Secured Credit Card lives up to its name. Not only does it help cardholders establish and restore their credit, but it also provides added security for shopping and banking online.
A minimum deposit of $300 is required to open this account. The maximum credit line, $4900, is determined by your income, the amount of the security deposit, and your ability to pay. After 12 months, you may get your security deposit back if your account is reviewed.
- Annual Fee $39
- Intro Purchase APR -
- Regular Purchase APR 20.24% (Variable)
- Signup Bonus None
- Chip Technology Chip-and-Signature
- Foreign Transaction Fee 3%
- Intro Balance Transfer APR -
- Regular Balance Transfer APR 20.24% (Variable)
- Cash Advance APR 20.24%-24.99% (Variable)
- Penalty APR Up to 29.99% (Variable)
- Late Fee Up to $38
- Returned Payment Fee Up to $27
Check your card's Guide to Benefits to learn the specific benefits your card offers and how to access them. Learn more about credit card benefits here.
- Account Alerts: Get alerts about account information on your phone.
- Mobile Banking: Pay your credit card bill online, transfer funds, check available credit and more.
- Text Banking: Send a text and get important account information.
- Fraud Protection: You will not be held responsible for unauthorized use of your card.
- ShopSafe®: Protection when you are shopping online.
- This card comes with Visa benefits. You will be provided with a list of benefits available to you once you get approved for your card.
Read about experiences others have had with this card and leave your own review here.
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I applied for a Bank of America Secured credit card about 11 months ago. I was rejected immmediately. Once I was saw I was rejected I called the bank immediately and spoke to a representative. They explained Y I was denied. I asked If I was able to receive one with a deposit and yes. I gave an $ 800.00 deposit and got my card in the mail in about 1 week. I have been using them ever since. My review is coming up next month hope I can get my deposit back.
This card in my opinion is not for individuals with bad credit. I have bad credit and was denied immediately. They sent a letter in the mail that was basic and gave no real explanation for the denial. I found out my credit union had a secured card I applied and was approved with a fantastic Apr of 9.75. Because of BOA I now have a hard inquiry on my credit report. Do yourself a favor and don't apply for this card. There're way better offers out there.
Beware BOA does a hard pull inquiry on your credit report. There's not a guarantee you'll be approved. Try obtaining a secured credit card.
This card takes several days for checks and bank transfers to take place. Also allows for places like gas stations to add an extra $25+ on the charge for up to 8 days until they decide that you actually only purchased $10 worth of fuel. This card is advertised as being an alternative to check cashing places but it's really only for people with extra money to spend.
I applied for this card and offered $1,000 as a deposit and got rejected. The reason being was that my credit was not good enough. My mind was blown that I could not get a secured card with a bank I have been with for years. I went to capital one and was approved instantly. I now have 2 capital one cards that are unsecured.